Hyundai Elevator Appoints Cho Jae-cheon as their New CEO
- Revealed ambition to achieve sales of KRW 5 trillion, operating profit of KRW 500 billion, and ultimately attain a global top 5 position by 2030
- Will lead a horizontal and challenging organizational culture with “communication” and “One Team” as the top priority
Hyundai Elevator announced on the 29th that it had appointed Cho Jae-cheon as their new CEO after the regular general meeting of shareholders and the board of directors.
In his inaugural address sent to executives and employees on the same day, CEO Cho Jae-cheon said, “Through overseas market expansion, we will achieve sales of KRW 5 trillion, operating profit of KRW 500 billion, and ultimately attain a global top 5 position by 2030,” and announced five management policies: safety management, responsible management, change in working culture, strengthening global competitiveness, and accelerating digital transformation. In particular, he suggested “communication” as the company’s top priority and emphasized that “all departments of the company should be restructured as a “One Team” by communicating with a mindset treating the colleagues with whom we work with as clients, not just customers who purchase our products.”
Cho Jae-cheon, the new CEO, who was born in 1964, graduated from Yonsei University and has been working in the elevator sales sector, contributing to the growth of Hyundai Elevator to be the largest elevator enterprise in Korea. He was a sales representative in the domestic elevator sales division in 2013. He then made his presence as he moved up as head of the elevator business unit in 2019, greatly contributing to Hyundai Elevator’s growing market share. This was his breakthrough that led to his promotion to executive vice president in 2021.